Kenya Electricity Generating Company (KenGen) is planning to raise $12-billion to build six geothermal power plants that should generate 585 megawatts by 2016, as it pushes to diversify its power sources.

KenGen managing director Eddy Njoroge says the company was open to different models to raise the financing required.

KenGen, the main power producer, is looking at options like joint ventures and BOT.

Kenya is the first African country to drill geothermal power, tapping vast steam energy, and has the potential to produce 7 000 megawatts of geothermal power and KenGen is targeting production of at least 5 000 megawatts by 2030.

Kenya’s peak electricity demand is 1 200 megawatts.

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